Agaciro Development Fund, Rwanda’s sovereign wealth fund is seeking more contributions to achieve its targets.
The call was made during a cocktail reception hosted by Agaciro Development Fund for members of the private sector as part of the drive to rally people to keep contributing to the fund on Thursday.
The fund has so far raised Rwf 37.5 billion out of the targeted Rwf 200 billion by 2020.
Jack Kayonga, the Chief Executive Officer of Agaciro Development Fund, commended the progress made and called for renewed commitment.
“Rwandans have continued to contribute to the fund regularly and the fund continues to grow on a daily basis through sheer determination of Rwandans and their friends,” he said.
However, he noted that there is need to do more to safeguard future generations and lay a strong foundation for their prosperity.
“The fund raised Rwf 17 billion at the inaugural function in 2012. If we kept the momentum, we would be having nearly 110 billion. We want people to restore the commitment they had in the beginning,” Kayonga said.
Kayonga reiterated that Rwandans can shape their destiny if everyone commits to this mission.
“The next generations can be guaranteed the life they deserve as Rwandans, if we all made it our responsibility. Let everyone consider what they can do for the future generations. We are a generation that can truly testify that no adversity can derail our nation and that we will define the legacy the future generation will inherit,” he added.
Benjamin Gasamagera, the chairperson of the Private Sector Federation, which is the main contributor to the fund, promised an increased contribution from the private sector.
“There is need for new measures to sustain what has been achieved and keep progressing. Planning for the descendants was part of Rwandan culture and as the private sector; we understand well what Agaciro calls for,” he said, explaining that contributing to the fund doesn’t require wealth but the a giving heart.
“It is not for the owners or managers of businesses but also employees. It’s not about how wealthy you are but rather understanding that building your nation begins with you. The fund is ours and we should preserve and develop it. So everyone should take pride in being part of this journey to prepare a better future for our descendants,” he said.
Agaciro Development Fund was introduced during the 2011 National Dialogue and was launched in August 2012 to build up public savings to achieve self-reliance and accelerate socio-economic development.